Insider Selling: Chubb (NYSE:CB) CEO Sells $5,000,317.78 in Stock

Chubb Limited (NYSE:CB) CEO Evan Greenberg sold 13,889 shares of the stock in a transaction on Thursday, October 29th. The stock was sold at an average price of $360.02, for a total transaction of $5,000,317.78. Following the completion of the transaction, the chief executive officer directly owned 277,274 shares in the company, valued at $99,824,185.48. The trade was a 4.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Chubb Stock Performance

Chubb stock opened at $374.41 on Thursday. Chubb Limited has a fifty-two week low of $282.11 and a fifty-two week high of $374.60. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.28 and a current ratio of 0.28. The stock has a market cap of $143.06 billion, a P/E ratio of 13.10, a price-to-earnings-growth ratio of 1.69 and a beta of 0.29. The firm’s fifty day moving average price is $344.94 and its 200-day moving average price is $334.80.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, October 20th. The financial services provider reported $7.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.77 by $0.89. The company had revenue of $16.20 billion during the quarter, compared to analyst estimates of $15.66 billion. Chubb had a net margin of 18.15% and a return on equity of 14.41%. During the same period in the previous year, the business earned $7.49 earnings per share. On average, equities research analysts expect that Chubb Limited will post 28.89 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Friday, September 11th were paid a dividend of $1.02 per share. The ex-dividend date of this dividend was Friday, September 11th. This represents a $4.08 annualized dividend and a yield of 1.1%. Chubb’s payout ratio is 14.28%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CB. JPMorgan Chase & Co. increased their price objective on Chubb from $371.00 to $374.00 and gave the company a “neutral” rating in a research report on Friday, October 23rd. Wells Fargo & Company boosted their target price on Chubb from $343.00 to $366.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 22nd. Cantor Fitzgerald restated a “neutral” rating and issued a $333.00 target price on shares of Chubb in a research report on Wednesday, October 21st. Citizens Jmp reaffirmed a “market outperform” rating and issued a $400.00 target price on shares of Chubb in a research note on Wednesday, July 22nd. Finally, Piper Sandler increased their price target on shares of Chubb from $340.00 to $374.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $362.78.

Key Chubb News

Here are the key news stories impacting Chubb this week:

• Positive Sentiment: Chubb’s partnership with Currys expands its embedded-insurance reach in the U.K., positioning it to capture demand for mobile-device protection through retail and digital channels. Can Chubb’s Currys Partnership Expand Embedded Insurance Growth?
• Positive Sentiment: Recent coverage highlighted Chubb as a momentum stock and noted that shares had reached a 52-week high. This may reinforce investor interest, although the articles do not identify a specific new company catalyst behind the run. What Makes Chubb (CB) a Strong Momentum Stock: Buy Now?
• Neutral Sentiment: An article on possible interest-rate hikes cited insurers among stocks that could benefit. Higher rates can improve investment income over time, but the outlook is conditional and not specific to Chubb. Rate Hikes Could Be Coming: History Likes These 4 Insurance Stocks
• Neutral Sentiment: Zacks Research made a mix of modest upward and downward earnings-estimate changes across coming quarters and fiscal years. The revisions offer no clear overall change in expectations. Chubb Limited analyst estimates
• Negative Sentiment: CEO Evan Greenberg sold 13,889 shares for about $5 million. Insider sales can weigh on sentiment, though he retained 277,274 shares after the transaction. Chubb CEO Sells 13,889 Shares

Institutional Trading of Chubb

Several hedge funds have recently added to or reduced their stakes in CB. Dunhill Financial LLC purchased a new stake in shares of Chubb during the second quarter worth about $25,000. IMG Wealth Management Inc. purchased a new position in Chubb during the 2nd quarter valued at about $25,000. Parvin Asset Management LLC purchased a new position in Chubb during the 2nd quarter valued at about $26,000. Highland Investment Advisors LLC purchased a new position in Chubb during the 2nd quarter valued at about $26,000. Finally, Frazier Financial Advisors LLC raised its position in Chubb by 86.4% during the 1st quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 38 shares during the last quarter. 83.81% of the stock is owned by institutional investors.

Chubb Company Profile

Chubb Limited is a global insurance company that provides property and casualty, accident and health, life, and reinsurance products and services. Its offerings include commercial and personal property and casualty insurance, liability coverage, workers’ compensation, specialty insurance, travel insurance, and coverage for high-net-worth individuals.

The company serves businesses, individuals, and institutional customers through a network spanning North America, Latin America, Europe, Asia-Pacific, and other international markets.